2015 – 037 Your pensions are at risk

The Gov is allowing your pension secrets sold to conmen for just 5p: On eve of pensions revolution, an exposé that will horrify every family in the land
Boss
Highly sensitive details of the pension pots of millions are being sold for as little as 5p and ending up in the hands of criminals. A Mail investigation reveals today how private financial information is being passed on by firms without their customers’ knowledge. This valuable data is then repeatedly sold on, ending up in the hands of fraudsters and cold-calling firms. We found some firms were willing to sell financial data on thousands of people without making any checks on what it would be used for. A director (Nick Sayer, pictured offering to sell details to undercover reporters) of one firm – B2C Data – boasted he had access to the salaries, investments and pensions of ‘a million people’. The information he sold to the reporter includes details of the salary, pension pots and investments of 15,000. Such information would be a godsend to criminals looking to exploit those approaching retirement.